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High street sales were slightly down in the year to April, but were in line with expectations for the time of year, the CBI has said. The CBI’s latest monthly Distributive Trades Survey, covering the first two weeks in April, showed that 33% of retailers saw an increase in sales volumes on a year ago, while 39% reported a fall. The resulting balance of -6% marked a slight fall in sales, following little change in the previous two months. However, this was in line with expectations (-4%) and retailers judged that sales volumes were consistent for the time of year (0%). Sales volumes are expected to rise next month, with the expectations balance at its highest (+19%) since February 2011 (+25%). Firms reported that the volume of orders also fell slightly on a year ago (-7%), but they anticipate that orders will grow in May (+6%). Across retailing, stock levels are being carefully managed. In April they were seen as modest in relation to expected demand (+5%), falling back from last month’s figure. Judith McKenna, chair of the CBI Distributive Trades Panel and Asda chief operating officer, said: “The situation on our high streets remains fragile. Consumers are still holding off from buying bigger ticket items, opting instead for smaller treat purchases that give them a lift without breaking the budget. “If, as expected, inflation falls further later this year, we may see some growth in retail sales; but as long as high unemployment and sluggish wage growth dampen confidence, spending will remain tight.” Elsewhere, motor traders saw a fall in their sales volumes (-11%), despite expectations of continued growth (+10%).While volumes in the wholesaling sector continued to rise on a year ago (+29%), growth slowed for the second month running, and sales are expected to fall in the year to May (-9%). Other Business Money News
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